What is one action a transaction broker may NOT take without ending their obligations?

Get ready for the Colorado Real Estate Exam. Utilize mock exams and targeted study questions for optimal preparation. Understand the exam format and maximize your chances of success with expert tips and guidance.

In a real estate transaction, a transaction broker is a neutral party who provides services to both the buyer and the seller while maintaining a limited role in the transaction compared to a traditional agent. One key aspect of a transaction broker's responsibilities is that they do not advocate for one party over the other.

When a transaction broker sells a buyer their own personal residence, this can create a conflict of interest. The transaction broker would then have an obligation that goes beyond the neutral facilitation role, potentially representing the buyer's interests more than those of the seller. Engaging in this type of transaction would compromise the broker's position and obligations as a neutral facilitator, thereby ending their role as a transaction broker.

Being involved in actions such as selling property or assisting in negotiations typically aligns within the responsibilities of a transaction broker as long as they maintain their neutrality, but selling a personal residence for a buyer crosses a line that alters the existing relationship and obligations. The other options, while they may require careful handling to maintain neutrality, do not inherently end a transaction broker's obligations to both parties involved.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy